Simone Biles Net Worth Forbes 2024: Age, Height, Husband, & Endorsement
Simone Biles Biography & Net Worth Quick Overview
Field | Details |
---|---|
Full Name | Simone Arianne Biles |
Nick Name | Simone |
Father Name | Ronald Biles |
Mother Name | Shannon Biles |
Gender | Female |
Country | United States |
Nationality | American |
Date of Birth | March 14, 1997 |
Age | 27 |
Height | 4 ft 8 in (1.42 m) |
Weight | 104 lbs (47 kg) |
Eye Color | Brown |
Hair Color | Dark Brown |
Birthplace | Columbus, Ohio, USA |
School | Home-schooled |
College | N/A |
Martial Status | Single |
Partner | Jonathan Owens (NFL player) |
Kids/Children Name | N/A |
Monthly Salary | N/A |
Yearly Income | N/A |
Net Worth | $16 million |
Profession | Gymnast |
Major Achievements | 7 Olympic medals, including 4 golds; 19 World Championship gold medals; 5-time World All-Around champion |
Endorsement Deals | Nike, Athleta, Uber Eats, Visa |
Recent Activities | Competing in the 2021 Tokyo Olympics; retired from competition in 2022; involved in media projects and philanthropy |
Charity Work | Founder of the Simone Biles Foundation; supports education and mental health initiatives |
Media Appearances | “Dancing with the Stars” (2017), “Simone vs. Herself” (2021), various talk shows and documentaries |
Health Advocacy | Advocates for mental health awareness; openly discussed her own mental health challenges |
Hobbies | Cooking, fashion, traveling, and photography |
Religion | Christian |
Zodiac Sign | Pisces |
Siblings | Three siblings (including one brother, Tevin) |
Latest Updating | 2024 |
Simone Biles’ Net Worth in 2024
As of 2024, I estimate Simone Biles’ net worth to be $16 million. This impressive figure is the result of her successful gymnastics career, lucrative endorsement deals, and various business ventures. Let’s dive deeper into how she accumulated this wealth.
Breaking Down the Numbers
To help you understand how Simone Biles built her net worth, I’ll break down the main contributors:
Category | Estimated Amount |
---|---|
Gymnastics Career Earnings | $2-3 million (estimated) |
Endorsement Deals | $10-12 million (estimated) |
Book Deals and Media Appearances | $1-2 million (estimated) |
Business Ventures | $500,000 – $1 million (estimated) |
Simone Biles’ Gymnastics Career and Earnings
Biles’ gymnastics career has been the foundation of her wealth and public profile.
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Olympic Success
Simone Biles’ Olympic achievements have significantly contributed to her earnings:
Olympic Games | Gold Medals | Silver Medals | Bronze Medals |
---|---|---|---|
2016 Rio Olympics | 4 | 0 | 1 |
2020 Tokyo Olympics | 1 | 1 | 0 |
While exact figures for Olympic bonuses aren’t public, USA Gymnastics typically awards $25,000 for gold medals, $15,000 for silver, and $10,000 for bronze.
World Championships and Other Competitions
Biles’ success extends far beyond the Olympics:
Here’s a table summarizing Simone Biles’ championship achievements:
Championship | Details |
---|---|
World Championship Gold Medals | 19 |
World All-Around Champion | 5-time |
U.S. National All-Around Champion | 5-time |
These achievements have likely resulted in significant prize money and bonuses from USA Gymnastics and sponsors.
Endorsement Deals
While Biles’ gymnastics earnings are impressive, her endorsement deals have been the primary source of her wealth.
Major Brand Partnerships
Over the years, Simone Biles has partnered with numerous global brands, including:
Brand | Details |
---|---|
Nike | Multi-year deal estimated at $1-2 million annually |
Athleta | Left Nike in 2021 for a deal reportedly worth $3-5 million annually |
Uber Eats | Featured in high-profile ad campaigns |
Visa | Long-term partnership as a Team Visa athlete |
Other Notable Endorsements
Biles has also had partnerships with:
- Core Power
- Candid Dental
- Hershey’s
- SK-II
While exact figures for these deals aren’t public, they likely contribute several million dollars annually to Biles’ income.
Book Deals and Media Appearances
Simone Biles has leveraged her fame into successful publishing and media ventures.
Autobiography
In 2016, Biles released her autobiography “Courage to Soar”:
- New York Times bestseller
- Estimated advance: $250,000 – $500,000
- Ongoing royalties from book sales
Television Appearances
Biles has made numerous television appearances, including:
Media Appearance | Details |
---|---|
Dancing with the Stars (2017) | Contestants earn $125,000 for signing on; up to $295,000 for making it to the finals |
Simone vs Herself (2021) | Facebook Watch series |
Various Talk Show Appearances | Featured in multiple talk shows and documentaries |
These media ventures have not only contributed to her wealth but also increased her public profile and marketability.
Business Ventures and Investments
Like many savvy athletes, Simone Biles has diversified her wealth through various business ventures and investments.
Gymnastics Equipment Line
In 2020, Biles partnered with Spieth America to launch a line of gymnastics equipment:
- Includes balance beams and mats
- Available for both professional and home use
- Potential for ongoing royalties from sales
Other Investments
While specific details of Biles’ investment portfolio aren’t public, it’s likely that she has:
- Invested in stocks and mutual funds
- Potentially invested in real estate
- May have stakes in start-ups or other businesses
Managing and Growing Simone Biles’ Wealth
With such a substantial fortune, you might be wondering how Simone Biles manages her wealth.
Professional Financial Management
Like most high-net-worth individuals, Biles likely employs a team of financial advisors, accountants, and lawyers to manage her wealth. This team would handle:
- Investment strategies
- Tax planning
- Contract negotiations
- Estate planning
Diversification and Brand Building
Biles’ wealth management strategy likely includes:
- Diversifying income streams beyond gymnastics
- Maintaining her personal brand through media appearances and social media presence
- Strategic partnerships with brands aligned with her values and image
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Comparing Simone Biles’ Net Worth to Other Athletes
To put Simone Biles’ wealth into perspective, let’s compare her net worth to some other notable athletes:
Here’s a table summarizing the net worth of the mentioned athletes:
Athlete | Net Worth |
---|---|
Michael Phelps | $80 million |
Usain Bolt | $90 million |
Serena Williams | $250 million |
Cristiano Ronaldo | $1 billion |
While Biles’ $16 million net worth might seem modest in comparison, it’s important to remember that gymnastics typically has fewer opportunities for massive earnings compared to sports like tennis or soccer.
The Impact of Simone Biles’ Success on Gymnastics
Simone Biles’ financial success has had a significant impact on the sport of gymnastics and women’s sports in general.
Elevating the Profile of Gymnastics
Biles’ success and marketability have:
- Increased media coverage of gymnastics
- Potentially led to higher sponsorship deals for other gymnasts
- Inspired a new generation of gymnasts
Advocating for Athletes’ Rights
Biles has used her platform to:
- Speak out against abuse in gymnastics
- Advocate for mental health awareness in sports
- Push for better treatment and compensation for athletes
Philanthropy and Social Impact
While philanthropy may not directly contribute to net worth, it’s an important aspect of Biles’ financial profile and personal brand.
Charitable Work
Simone Biles has been involved in various charitable initiatives:
- Donated $500,000 of her Wheaties box earnings to an organization supporting the food insecure
- Supports foster care initiatives, having been in foster care herself as a child
- Advocates for education and youth development programs
Challenges and Learning Experiences
Like any public figure, Simone Biles has faced challenges that have shaped her financial journey.
Mental Health and the 2020 Olympics
Biles’ decision to prioritize her mental health during the 2020 Tokyo Olympics:
- Potentially impacted some sponsorship deals
- Led to increased discussion about athletes’ mental health
- May have opened up new opportunities for mental health advocacy
These experiences likely influenced her approach to brand partnerships and career decisions, potentially impacting her long-term earning potential.
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Conclusion
As I conclude this exploration of Simone Biles’ net worth, it’s clear that her financial success is as impressive as her gymnastics achievements. With a net worth of approximately $16 million built through athletic excellence, strategic endorsements, and smart brand management, Biles has established herself as one of the most successful gymnasts both on and off the mat.
For you, the reader, Biles’ story serves as an inspiring example of how exceptional talent, coupled with strategic partnerships and a strong personal brand, can lead to significant wealth. Her journey demonstrates the importance of diversification, using one’s platform for positive change, and balancing athletic pursuits with business acumen.